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MARCUS & MILLICHAP ARRANGES $4.1M SALE OF WALMART GROUND LEASE

PENSACOLA, FLA. — Marcus & Millichap has brokered the $4.1 million sale of a net-leased retail property located in Pensacola. Walmart Neighborhood Market has a 20-year ground lease on the asset. Don McMinn and Zachary Taylor of Marcus & Millichap’s Atlanta office represented the seller, a Tennessee-based developer, in the transaction. Patrick Furlong of Marcus & Millichap’s Seattle office secured and represented the buyer, a private investor based in California that purchased the asset in a 1031 tax-deferred exchange. Kirk Felici of Marcus & Millichap assisted in the transaction.

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